• Manhattan Grand Jury has indicted Donald Trump on over 30 counts of business fraud, including a hush money payment to Stormy Daniels.
• Following the news, Trump Cards NFT floor price soared by 22% to $1,070 and has a market cap of $48 million.
• NFT enthusiasts traded 105.069 Ethereum (ETH) since the news, which equals $189,000.
Grand Jury Indicts Donald Trump
Manhattan Grand Jury officially indicted former president Donald Trump on over 30 counts of business fraud, including the hush money payment to adult film star Stormy Daniels. This is the first case in which an ex-US President has been indicted on criminal charges. Trump denies all allegations but his legal trials and tribulations sparked activity in the NFT market.
Trump Cards Surge After News
Trump’s famed Trump Cards NFT collection tripled in trading volume in the last 24 hours following news of his indictment. The current NFT floor price of 0.595 Ethereum (ETH) represents a tenfold increase from its original price of $99 when it was released after Donald’s ‚Major Announcement‘ in November 2022. The collection now has a market cap of $48 million and is stored on Polygon (MATIC).
Additional Charges Filed
In addition to the charge related to paying hush money to Stormy Daniels, Trump is also facing 34 counts of falsifying business records as part of felony charges if found guilty by a jury.
NFT Enthusiasts Trade Ethereum
NFT traders have responded positively to news about Donald’s indictment by trading 105.069 Ethereum (ETH), equivalent to $189,000 since the announcement was made public.
Relics or Trading Opportunity?
Some owners view their Trump Card collections as relics while others see them as great trading opportunities with potential for even higher profits if they hold out long enough despite legal uncertainty surrounding Donald’s future prospects with this case still pending trial